RLJ Lodging Trust (RLJ) Stock Rating Lowered by Zacks Investment Research

RLJ Lodging Trust (NYSE:RLJ) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

According to Zacks, “RLJ Lodging Trust is a REIT focused on investing primarily in premium-branded, focused-service, and compact full-service hotels. It plans to own hotels concentrated in urban and dense suburban markets. “

A number of other equities research analysts have also recently commented on RLJ. Canaccord Genuity raised RLJ Lodging Trust from a “hold” rating to a “buy” rating and increased their target price for the stock from $21.00 to $23.00 in a research note on Friday, September 8th. Deutsche Bank initiated coverage on RLJ Lodging Trust in a research note on Tuesday, September 19th. They issued a “hold” rating and a $22.00 target price on the stock. Robert W. Baird reissued a “hold” rating and issued a $23.00 target price on shares of RLJ Lodging Trust in a research note on Thursday, September 21st. ValuEngine raised RLJ Lodging Trust from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Barclays initiated coverage on RLJ Lodging Trust in a report on Friday, October 6th. They set an “equal weight” rating and a $24.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.36.

Shares of RLJ Lodging Trust (NYSE:RLJ) traded up $0.02 during mid-day trading on Thursday, reaching $22.40. The company had a trading volume of 1,274,300 shares, compared to its average volume of 1,179,450. The stock has a market capitalization of $3,914.49, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. RLJ Lodging Trust has a 12 month low of $19.12 and a 12 month high of $25.01. The company has a debt-to-equity ratio of 0.90, a quick ratio of 2.06 and a current ratio of 2.06.

RLJ Lodging Trust (NYSE:RLJ) last issued its quarterly earnings results on Wednesday, November 8th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. RLJ Lodging Trust had a return on equity of 5.80% and a net margin of 12.30%. The company had revenue of $341.26 million for the quarter, compared to analysts’ expectations of $347.74 million. During the same period in the prior year, the firm earned $0.69 earnings per share. The firm’s revenue for the quarter was up 15.2% on a year-over-year basis. equities research analysts predict that RLJ Lodging Trust will post 2.27 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in RLJ. Allianz Asset Management GmbH grew its holdings in RLJ Lodging Trust by 111.2% during the 3rd quarter. Allianz Asset Management GmbH now owns 628,717 shares of the real estate investment trust’s stock valued at $13,833,000 after buying an additional 330,962 shares in the last quarter. Citigroup Inc. lifted its stake in shares of RLJ Lodging Trust by 14.6% during the 2nd quarter. Citigroup Inc. now owns 290,875 shares of the real estate investment trust’s stock worth $5,780,000 after acquiring an additional 36,958 shares during the last quarter. State Street Corp lifted its stake in shares of RLJ Lodging Trust by 2.4% during the 2nd quarter. State Street Corp now owns 4,831,260 shares of the real estate investment trust’s stock worth $96,267,000 after acquiring an additional 111,681 shares during the last quarter. Palisade Capital Management LLC NJ raised its position in RLJ Lodging Trust by 17.1% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 668,960 shares of the real estate investment trust’s stock valued at $14,717,000 after purchasing an additional 97,793 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in RLJ Lodging Trust by 10.6% during the 2nd quarter. Systematic Financial Management LP now owns 81,275 shares of the real estate investment trust’s stock valued at $1,615,000 after purchasing an additional 7,760 shares in the last quarter. Hedge funds and other institutional investors own 94.38% of the company’s stock.

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About RLJ Lodging Trust

RLJ Lodging Trust is a self-administered real estate investment trust. The Company is engaged in the acquisition of focused-service and compact full-service hotels. As of December 31, 2016, the Company owned 122 hotels with approximately 20,100 rooms, located in 21 states and the District of Columbia, and an interest in one mortgage loan secured by a hotel.

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